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May 16, 2013
Do you know where your money is? If some of it is offshore, you might have tax reporting responsibilities – and those responsibilities generally go further than checking the familiar box on the Schedule B you submit with your federal income tax return. Here are two. 1. FBAR. Foreign bank account reporting has been required [...]
May 9, 2013
Tax rules are daunting at the best of times – and they’re more so at the worst of times, such as during a divorce, when you may feel too stressed to face decisions involving your taxes and personal assets. Yet the choices you make will affect your future, both financially and personally. These 3 rules [...]
April 24, 2013
Pinterest is a social bookmarking site that allows users to create a visual, online pinboard with images they love organized around topics of their choice by category. It’s the fastest growing social media site in history, the third-largest network after Facebook and Twitter and has over 25 million members and 10 million unique visitors a [...]
April 3, 2013
The following list was compiled as the most common reasons the courts look to disregard the liability protection your entity provides. 1. Domination of the Corporation By One Shareholder 2. Failure to Maintain Corporate Records 3. Failure to Keep Separate Financial Records 4. Separation of Personal and Business Assets 5. Under Capitalization 6. Failure to [...]
April 2, 2013
Exactly what is a registered agent? Each corporation is required to maintain a registered agent within the state in which they incorporated. The purpose of a registered agent is to serve as a physical location for someone to serve your company with legal service of process. So if your corporation were to be served with [...]
April 2, 2013
By: Sandy Botkin, CPA, ESQ. There is only two ways to save on taxes…1.) don’t make any money or 2.) start your own business For those of us who want to make money number one isn’t an option. Option two can be a scary step if you feel more secure working for somebody else. [...]
April 1, 2013
Under the new tax law, it is now easier to convert your employer-sponsored retirement plan such as a 401(k), 403(b), or 457 into a Roth IRA account. This is similar to converting your traditional IRA into a Roth IRA, but with one very significant difference. When you convert a traditional IRA into a Roth IRA, [...]
